PAN-Aadhaar linking rule: The Central board of Direct tax has announced on 01-07-2022, that from today they Extending the Date of Linking PAN card and Aadhaar Card. However, there’s god, and a bad news about linking PAN Card with Aadhaar Card, As per the Official Circular issued by the CBDT, that If PAN Not Linked with Aadhaar, will become Inoperative after 31 March 2023. And the good news is you can still use your pan card for a year. You have one year time Period for link your PAN with your Aadhaar Card.
Income Tax Department has announced that after 31 march 2023 they will charge Penalty of Rs. 1000/- for not Linking PAN With Aadhaar Card. They have announce another Rule about linking PAN with Aadhar Card is that, those Tex Payers Who link their PAN with Bio metric Aadhar Card by 30 June 2022, would be Required to pay the Penalty of Rs.500/-. And beyond that penalty will raise Double by Rs. 1000/-.
They have Given Opportunity To the tax Payer for Link their PAN with Aadhar till 31-3-2023 to intimate their Aadhar to the Prescribed Authority for Aadhar –PAN linking without Facing Repercussions, the CBDT Said, adding Such Intimation Would Have to Accompanied by late Fees.
New PAN-Aadhaar linking rule: What If Your PAN Become Inactive?
After 31st March 2023, if you have Not Linked Your PAN with Your Aadhar Card, It Will Become Inactive and the Consequences under the Act for Furnishing. Intimating or Quoting the Pen shall apply to such Tex Payers. Once Your Pan Become inactive You Will Restricted by doing Financial Transaction, Subjected to the TDS at Higher Rates and Penalty Under Section 272B.
Step By Step Process of Linking PAN With Aadhaar Card
- In order to link PAN and Aadhaar cards, tax payers have to first register on the Income tax e-Filing portal https://eportal.incometax.gov.in/
- Log in to the e-Filing portal of the Income Tax Department by entering the log-in ID, password and date of birth
- After punching in the details, you will also have to feed in a code
- On logging in to the site, a pop up window will appear, prompting you to link your PAN card with Aadhaar card
- If not, you can go to Profile setting and opt the “Link Aadhaar” button
- Punch in the details such as name, date of birth and gender. It will be already mentioned by you during registration on the e-Filing portal
- Verify the details on screen with the ones mentioned on your Aadhaar card
- If the details match, enter your Aadhaar card number and click on the “link now” button
- You will get the message that your Aadhaar card has been successfully linked to your PAN card
What Is the Last Date of the PAN-Aashaar Card Linking
Last date Announce by the Officials is 31-03-2023.
How Much Penalty we have To Pay If We Delayed on Linking Cards?
You have to Pay Rs. 1000/- Penalty.
What If My PAN goes Inactive?
You can Not Do your Financial Transactions.